The Study Of The Comprehensive Solvency Regulations Of Property Insurance In China

Since reform and opening up, China takes government-leading type, a mandatory system change featured by gradually concession on the property rights, to steadily reform the insurance industry. The insurance industry has developed rapidly to become the national economy in one of the fastest-growing industries. But in a time of rapid growth, China's insurance industry is facing solvency problems. In the field of property insurance, there is also the same problem especially since the accession to the WTO. Property insurance companies are facing more and more foreign insurance companies competitions, thus strengthening the supervision of solvency and improving the solvency of China's property insurance have become an important issue. China is currently in its early stages of building a system to monitor the solvency. The academic study is also in its infancy, which introduced solvency monitoring more about the developed countries and regions' experiences, and the policy recommendations are not systematic. In practice, the gap between supervision of solvency and other means of monitoring is a more serious phenomenon. In addition, the lack of a coordinated mechanism and organizations, leading to imperfect system and the problems of implementation of measures and other issues, which restricted the regulatory efficiency. Most of the cases, the insurance industry relies on market supervision, the overall solvency situation is not optimistic.Therefore, I tried to set up a theoretical framework studying the property insurance, to build an integrated monitoring system for the purpose of the solvency. Taking solvency regulation as the core, this theory establishes a monitoring system with three pillars, to start guided by study on general and specific analysis, policy proposals. The first chapter introduces the definition of solvency, and solvency regulation, on this basis putting forward a concept of the comprehensive solvency regulation, stressing the "three pillars" of supervision coordination and of international solvency regulation coordination. Chapter II firstly introduced the "core principles of insurance supervision" on the property insurance regulatory solvency requirements, and exploring the changes of international monitoring in trends. Then introduced two of the world's leading solvency regulation systems" American model" and the "British model" for the regulator to provide decision-making reference. Chapter III analyzed the reasons for the changes of China's property insurance system and the importance of strengthening the regulatory solvency of international coordination, by application of the theory of institutional change and international coordination and cooperation in supervision, in order to lay the foundation for policy recommendations. The fourth chapter describes China's solvency regulation of the property insurance with "five-dimensional" regulatory framework in detail. Under the existing framework, from taking empirical analysis of the solvency status and warning system, we can point out the shortcomings of the existing system. Chapter V made proposals of establishing a regulation system by 5 principles and 5 recommendations.Innovations in this article: First, for the first time put forward the concept of a comprehensive solvency regulation and enrich the connotation of it with an extensive meaning. I carry out a joint research on "Three pillar" system of solvency regulation and other means of supervision, hoping to establish a more Generalized concept of solvency regulatory.Second, try to study property insurance solvency regulation of the international coordination and cooperation. In the past, there is less study on coordination and cooperation for the monitoring study. Following the collaboration theory of international financial supervision greatly broaden our research field of vision, especially in the economic and financial globalization, as well as the global spread of the current credit crisis in the United States. It is of practical significance to strengthen coordination and cooperation in the supervision.Third, attempt to explain the reasons of institutional Change to explore the solvency of China's property insurance regulation. This article takes into account the relative price changes of Resources, changes in consciousness, technological progress and risk aversion, striving to sort out the development process of monitoring system.The fourth is trying to establish an insurance regulatory coordination mechanism at the core of the solvency regulation. I described what it is and proposed that corporate structure governance is the basis to the implementation of a comprehensive solvency regulation, due to the security of Market behavior governance. It reacts to them at the same time, And vice versa. I try to build a complete and mutually promoting regulatory mechanism, and initiate preliminary study to the system's organizational structure and operating mechanism.Fifth, I propose 5 principles of an integrated solvency monitoring system. These 5 principles impel regulatory bodies to monitor the resources distribution reasonably. It highlights the central position of solvency regulation and establishes an effective monitoring system. On the other hand, it also promotes a culture of supervision, with which we could make effective maintenance of security and stability to the insurance market as well as of the financial system.